Author: lbostgadmin
“AMCHAM Gives Back” sponsors CPS boys development centre activities
The American Chamber of Commerce in Sri Lanka [AmCham] recently donated their proceeds from the AMCHAM Ball and other activities held in 2017, to the Child Protection Society Boys Development Centre.The donation was used to fund structural refurbishment, purchasing of new computers and towards the education of the children at the Centre. “AMCHAM Gives Back” […]
Uswatte opens state-of-the-art biscuit factory in Millaniya
Jun 22, 2018 (LBO)- Uswatte Confectionery Works, Sri Lanka’s oldest confectionery manufacturer opened their latest factory in their premises at Millaniya. The state-of-the-art factory will focus exclusively on the manufacturing of biscuits and signifies the entry of Uswatte into Sri Lanka’s biscuit market. The factory was be declared open by Prime Minister Ranil Wickremesinghe including […]
Anilana (ALHP) reports another loss as east coast tourism struggles
June 21, 2018 (LBO) – Colombo Stock Exchange listed Anilana released financial results for the quarter and the year ended March 31, 2018.The loss for the quarter was Rs104mn, and the year was Rs330mn.These results are similar to the prior year where the company lost Rs276mn. Anilana was one of a few companies that made […]
Cabinet approval for electricity pricing mechanism expected by Sept: IMF
June 22, 2018 (LBO) – Cabinet approval for an automatic tariff adjustment mechanism for electricity under the 2015 tariff methodology is expected by September, an International Monetary Fund (IMF) report said. The 2015 tariff methodology introduces price stability by fixing tariffs over a period of six months, protecting end-users from volatility in the exchange rate, […]
Sri Lanka May inflation 2.1-pct, Up from April 2018
Jun 22, 2018 (LBO) – Sri Lanka’s headline inflation measured by National Consumer Price Index (NCPI) rose to 2.1 in May, the Census and Statics Department said Thursday. The NCPI decreased to 1.6 percent in April, lowest since February 2016, from 2.8 percent in March 2018. Compared to month-on-month changes, NCPI in May 2018 has increased […]
CA Sri Lanka qualification comparable to a Master’s Degree: UK’s NARIC
The CA professional qualification of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) received a renewed boost recently after the National Academic Recognition Information Centre (NARIC) based in the United Kingdom said that the CA qualification is comparable to a Master’s Degree standard. The announcement was made by NARIC following an independent […]
Colombo stocks snap losing streak, turnover weak
June 21, 2018 (LBO) – The stock market in Sri Lanka finally snapped a long losing streak finishing up slightly on the day. The major indices (ASPI and the S&P SL 20) both finished marginally in the green after spending most of the day in the red. Turnover was weak again at Rs416mn (US$2.6mn). Net […]
‘s progress closely despite their withdrawal from UNHRC
June 21, 2018 (LBO) – Outgoing US Ambassador Atul Keshap has met with senior Sri Lankan officials to convey the assurance of the United States government on human rights front despite their withdrawal from the United Nations Human Rights Council.Ambassador Keshap has said that the US will remain fully engaged with the Sri Lankan government […]
Sri Lanka’s unabated credit growth in real estate sector raises concerns: IMF
June 21, 2018 (LBO) – Sri Lanka’s significant credit growth for more than two consecutive years warrants attention, an International Monetary Fund (IMF) staff report released yesterday said. While a portion of this credit growth can be associated with financial deepening, loan concentration, notably in the real estate sector, raises concerns, the report added. The […]
Sri Lanka to develop internal air transport : 5 firms come forward
Jun 21, 2018 (LBO) – Sri Lanka’s government and cabinet of ministers has given the go ahead to carry out an overhaul in the domestic aviation industry and develop it. “Currently, no clear policy governing civil aviation exists, hindering development due to lack of conformity with international standards,” a cabinet statement said. To address the issues, […]
CM Port pays final tranche of USD584Mn for Hambantota Port
Jun 20, 2018 (LBO) – Sri Lanka’s government has received the final tranche of investment value for Hambantota Port concession from China Merchant Port Holdings Limited (CM Port), Wednesday. “This third and final tranche of US 584,194,800 dollars follows the 1st, a 2nd tranches released in December last year and January 2018,” the Sri Lanka […]
Battle of the 70 year olds as Gotabaya turns 69, three months after Ranil
June 20, 2018 (LBO) – Today, former Defence Secretary Gotabaya Rajapaksa turned 69 years of age, roughly 3 months after Prime Minister Ranil Wickremesinghe turned 69 on March 24th.The presidential hopefuls are on a collision course with each other at the next Presidential Election due before January 8, 2020.When both candidates formally go head to […]